Question $4$

You are choosing between three superannuation accounts:

Acct $1$ earns $0\mathrm{.}65\%$ per month.

Acct $2$ earns $8\mathrm{.}2\%$ per year compounded quarterly, but charges an annual fee of $0\mathrm{.}75\%($paid at the end of each year$)$

Acct $3$ earns an annually compounded return of $8\mathrm{.}1\%$

i$)$ Rank the returns on these three accounts. Make any necessary computations.

ii$)$ If you have $$50,000$ in your account now and make no contributions or withdrawals for $30$ years, what will be the difference in your account balance in $30$ years between the best choice and the worst choice?

iii$)$ If you do make additional contributions, will that increase or decrease the difference?